The social music app developer has raised $54m in a Tencent-led round that valued it at $604m and will now look to expand in Asia.

Existing investor Legend Capital has contributed to a series C round of undisclosed size for China-based entertainment provider Shanghai Star48 Culture and Media.

JG Summit Holdings and Uni-President Enterprises were among the investors as Tencent-backed internet company Garena rebranded to Sea and raised new funding.

The transaction, worth up to $57.5m, will allow Intel Capital and the Singapore state-owned EDBI to exit adtech provider Crisp Media.

Intel, Unilever and Bauer Media will exit online recipe recommendation platform Yummly, which was valued at $100m as of 2015, in an acquisition by appliance maker Whirlpool.

The Renren-backed social media platform has formally announced it will shut down this week, with Square paying about $1m for some of its engineers and IP.

The social media management platform has created a $5m vehicle dubbed Hootsuite Integration Fund to support developers building apps on its platform.

Internet company Cheetah Mobile is part of a consortium that committed $60m in funding to its video streaming spinout, Live.me.

The two universities have signed a partnership agreement that aims to increase research collaboration, boost commercialisation activities and develop a joint PhD program.